D-Wave Quantum (NYSE:QBTS) Shares Gap Down – Here’s What Happened

Shares of D-Wave Quantum Inc. (NYSE:QBTS) gapped down before the market opened on Tuesday . The stock had previously closed at $24.03, but opened at $22.42. D-Wave Quantum shares last traded at $23.58, with a volume of 15,692,820 shares.

D-Wave Quantum News Summary

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: D-Wave’s Q1 loss of $0.05 per share beat expectations for a $0.08 loss, giving bulls a reason to focus on better-than-expected bottom-line performance. QBTS Q1 Earnings Top Estimates, Revenues Miss, Stock Up
• Positive Sentiment: The company said bookings surged nearly 2,000% year over year, and management pointed to expanding commercial adoption plus momentum from its quantum initiatives, which supports the long-term growth story. D-Wave Quantum (QBTS) Earnings: Revenue Falls 81%, but Bookings Surge Nearly 2,000%
• Neutral Sentiment: Shares also drew attention because investors are weighing record bookings and new government deals against profitability concerns and a stretched valuation ahead of the earnings release. D-Wave Q1 2026 Earnings Tomorrow: Time to Buy Stock, Hold or Wait?
• Negative Sentiment: Revenue of $2.86 million badly missed estimates of about $4.19 million and fell 80.9% from a year ago, which is the main reason for the bearish reaction in the stock. Quantum Computing Stock Cools Off After Revenue Whiff
• Negative Sentiment: Analysts also highlighted that the company remains deeply unprofitable, with a very large negative net margin and negative return on equity, keeping pressure on the shares despite the earnings beat. D-Wave Quantum Inc. (QBTS) Reports Q1 Loss, Misses Revenue Estimates

Analyst Ratings Changes

A number of equities research analysts have recently commented on QBTS shares. Canaccord Genuity Group set a $43.00 price target on D-Wave Quantum in a research report on Thursday, January 29th. Northland Securities started coverage on shares of D-Wave Quantum in a report on Monday, April 20th. They issued a “market perform” rating and a $22.00 price target for the company. TD Cowen initiated coverage on shares of D-Wave Quantum in a report on Thursday, February 12th. They set a “buy” rating on the stock. Mizuho reduced their target price on shares of D-Wave Quantum from $46.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Finally, Roth Mkm dropped their price target on D-Wave Quantum from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.53.

D-Wave Quantum Stock Down 9.7%

The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of -19.82 and a beta of 1.95. The stock’s fifty day moving average price is $17.83 and its 200-day moving average price is $22.84.

D-Wave Quantum (NYSE:QBTS) last announced its earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $4.19 million. D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 58.58%. The firm’s revenue was down 80.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.02) earnings per share. On average, sell-side analysts predict that D-Wave Quantum Inc. will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Rohit Ghai sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $17.62, for a total value of $176,200.00. Following the completion of the sale, the director directly owned 27,778 shares of the company’s stock, valued at $489,448.36. This trade represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO John M. Markovich sold 10,706 shares of D-Wave Quantum stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $17.63, for a total value of $188,746.78. Following the transaction, the chief financial officer owned 1,451,427 shares of the company’s stock, valued at $25,588,658.01. This represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,776 shares of company stock worth $574,571 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Huntington National Bank lifted its position in D-Wave Quantum by 17.9% during the third quarter. Huntington National Bank now owns 3,300 shares of the company’s stock worth $82,000 after purchasing an additional 500 shares during the period. Sigma Planning Corp lifted its holdings in shares of D-Wave Quantum by 3.6% during the 4th quarter. Sigma Planning Corp now owns 16,329 shares of the company’s stock worth $431,000 after acquiring an additional 560 shares during the period. AlphaStar Capital Management LLC boosted its position in shares of D-Wave Quantum by 2.2% during the 4th quarter. AlphaStar Capital Management LLC now owns 27,063 shares of the company’s stock worth $708,000 after acquiring an additional 592 shares in the last quarter. Noble Wealth Management PBC boosted its position in shares of D-Wave Quantum by 6.7% during the 4th quarter. Noble Wealth Management PBC now owns 9,600 shares of the company’s stock worth $251,000 after acquiring an additional 600 shares in the last quarter. Finally, Thoroughbred Financial Services LLC increased its stake in D-Wave Quantum by 0.5% in the fourth quarter. Thoroughbred Financial Services LLC now owns 131,852 shares of the company’s stock valued at $3,447,000 after acquiring an additional 602 shares during the last quarter. Institutional investors own 42.47% of the company’s stock.

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.